Limit order

A limit order is placed in the order book and executes at your specified price or better — it is not meant to execute instantly.

Example 1: BTC/USDT is at 80,000 USDT and you place a limit buy at 75,000 USDT. Your order sits in the order book and executes when matching sell orders reach 75,000 USDT.

Example 2: BTC/USDT is at 80,000 USDT and you place a limit buy at 85,000 USDT. Because your limit is above the current market price, the order initially acts as a market order, filling at available prices up to 85,000 USDT (taker fee applies). Any unfilled remainder stays open as a limit order in the order book (maker fee applies).

Note: If there are no or not enough matching orders, your limit order may not execute or may only partially execute.

Advanced limit orders (Time in force)

• Good 'til Cancelled (GTC) — Default. The order stays active until executed or manually cancelled. Useful when you want to set a target price and wait. 
• Immediate or Cancel (IOC) — Executes immediately as much as possible; any unfilled portion is cancelled. Useful when you want partial fills but no open orders left behind. 
• Fill or Kill (FOK) — Must execute in full immediately or it is cancelled entirely. Useful when you need the full amount filled or nothing at all.

Market Order

A market order buys or sells at the best available price in the order book.

Slippage protection: Market orders carry a risk of slippage if the order book is not sufficiently liquid. To protect you, we apply a default slippage protection of 25%, which you can adjust between 10% (lowest risk) and 90% (highest risk).

In practice, a market order is converted into a Limit IOC order at a price offset by your slippage setting:

Your order will typically fill at a more favourable price than the slippage limit. Note that your order history will reflect the converted limit order, not the original market order.

You can adjust your slippage protection in Profile → Settings.